Mr. Small is a member of Davis Polk & Wardwell’s Capital Markets Group. He advises U.S. and non-U.S. clients on a wide variety of transactions, including initial public offerings, spinoffs, other securities underwritings, corporate finance, foreign asset privatizations, and international corporate and sovereign offerings. He advises numerous U.S. companies in conjunction with capital-raising transactions, and has been a principal legal adviser to Morgan Stanley for many years. Mr. Small ranked 2^nd among lawyers nationwide based on the aggregate value of initial public offerings he worked on between 1998 and 2003 (IPO Vital Signs, 2004).

Among his transactions, Mr. Small advised Greenhill & Co. on its $101 million initial public offering. He advised Morgan Stanley as lead manager in the $4.5 billion Rule 144A offering of convertible senior debentures by Tyco International Group and in the $2.3 billion initial public offering of KPMG Consulting (the first public offering by a consulting firm that was previously part of a major accounting firm). He advised the underwriters on the $5.5 billion initial public offering of UPS and a series of offerings of convertible securities by Lucent Technologies aggregating almost $5 billion. He advised the managers on the $784 million initial public offering by Galileo International, The Limited on its spinoff initial public offerings of stock of Intimate Brands and Abercrombie & Fitch, Nabisco Holdings on its $882 million initial public offering as part of the restructuring of RJR Nabisco and DLJ on its initial public offering of DLJdirect.

In his international practice, Mr. Small has advised many European and Latin American companies and financial institutions, including Banco Bilbao Vizcaya Argentaria and Banco Santander Central Hispano. He has worked on many initial cross-border offerings for non-U.S. companies. He was in charge of Davis Polk’s representation of Telefónica de EspaZa, Endesa, Repsol and Argentaria in connection with their privatizations and their initial global offerings. He has advised a number of sovereigns in connection with their privatizations, including Telefónica del Perú and Edegel.

Mr. Small joined the firm in 1968 and became a partner in 1976.

Mr. Small graduated from Cornell University in 1963 and in 1966 received his LL.B., Order of the Coif, from New York University School of Law, where he was projects editor of the law review and a John Norton Pomeroy Scholar. He was a Fulbright Scholar in Spain in 1967. He was an associate adjunct professor at New York University School of Law. Mr. Small is fluent in Spanish.